Leading cryptocurrency stablecoin Tether has announced the launch of the new asset, Tether (USDT) tokens, built around the Tezos blockchain, along with the ambition of expanding its digital footprint over the digital payments and decentralized finance (DeFi) sector.
Based on the pr release, “USDT on Tezos perseverence revolutionary applications across payments, DeFi, and much more.” In conversation having a Tether representative, greater context was provided regarding the intended utility of Tether tokens:
“Tether tokens aren’t a good investment however a utility for participating in internet commerce, combating volatility, and supplying a secure haven for remittances. Tether tokens could be safely stored, sent, and received over the blockchain and therefore are redeemable for that underlying asset, susceptible to the tos and fee schedule.”
The representative ongoing onto reveal what they are called from the 12 blockchains, including Tezos, which the asset will end up accessible.
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“Tether presently supports transfers on the different and growing listing of blockchains including Solana, Ethereum, Kusama, Avalanche, Polkadot, Algorand, EOS, Liquid Network, Omni, Tron and Bitcoin Cash’s Standard Ledger Protocol.”
Tether chief technology officer Paolo Ardoino spoke highly from the launch, anticipating that it’ll support Tether’s growth across in the future.
“Tezos is originating fast to the scene so we think that this integration is going to be necessary to its lengthy-term growth.”
